Teen Patti Maker Octro Lands 90 Crore Rupee Funding from Sequoia

Teen Patti Maker Octro Lands 90 Crore Rupee Funding from Sequoia

India's well known gaming company Octro has raised $15 million which is around 90 crore rupees from Sequoia Capital India. The gaming company is best known for its multi-platform Teen Patti. This game was a big hit in India on the Google Play Store. The company is 8 years old and though it started out in the field of mobile internet communications, it has caught on to gaming in the recent years.

This company has also developed online versions of well known card games such as flash, rummy and tambola. Over 2 million players across the world are its customers. Octro's games are one of the best selling apps on Google as well as Apple App Store.

This is the first time that Sequoia Capital India has funded a company in the gaming sector. Co-founder Saurabh Aggarwal has told leading news agencies how the latest infusion of funds is a welcome respite as the company had “lost the battle and gathered our troops.” Prior to this firm, Agarwal had also founded PDAapps Inc and come up with the technology for integrated instant messaging service VeriChat.

Sequoia was best known for its investments in leading companies such as Google and Whatsapp. The firm is now looking to fund projects and companies in Southeast Asia with special emphasis on consumer, healthcare and technology sectors. Octro plans to employ funds to add new titles and spread out to other genres and markets. The infusion of funds will also enable it to increase its work strength and double the number of workers within a span of this year.

Mobile games start-up Octro Inc has obtained series A funding from Sequoia to develop traditional Indian games on the mobile platform. The Delhi based company has the knack for developing games that just work, in the words of its CEO Agarwal. The best part about Octro games is that they are readily available using exciting new technology for people to enjoy.

MD Mohit Bhatnagar has traced how Octro's attempt to make “culturally relevant games come to life on the mobile” are yielding rich dividends for the company. This is coupled with the fact that recent reports by Avendus Capital indicate the mobiles games and application market in India may reach $450 million by the year 2016. This has largely been fuelled by the surge in the number of smartphone users to 67 million this year. The numbers are expected to reach 382 million in the year 2016.

Founded in 2006, this company's prospects are set to boom by 2016 given the current reports. The good part about battling the odds is that if you stay long enough in the game, it eventually plays out in your favour. As it is with other things in life, getting in is easy. It is staying relevant in the game that counts the most. With new technologies in this field constantly expanding, there are new avenues for growth as well. Capitalising on the technology wave will yield rich profits for players in the gaming world.
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  • RE: Teen Patti Maker Octro Lands 90 Crore Rupee Funding from Sequoia -heet solanki hs (05/05/15)
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  • RE: Teen Patti Maker Octro Lands 90 Crore Rupee Funding from Sequoia -aditya thakkar (01/11/15)
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